Retirement plan

ION FINANCIAL, MHC 401K PLAN

Name: ION FINANCIAL, MHC - ION FINANCIAL, MHC 401K PLAN (2016) Form 5500
Creator: ION FINANCIAL, MHC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ION FINANCIAL, MHC 401K PLAN, ION FINANCIAL, MHC

ION FINANCIAL, MHCEIN 57-1223365Plan #002PY 2016

251 CHURCH STREET, PO BOX 370 - NAUGATUCK, CT 06770203-720-5372LinkedIn51-200 employeesbanking

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$19.5M

+16.1% from 2015

Total participants

392

+7.1% from 2015

Average account balance

$57,319

+8.9% from 2015

Annual return

10.02%

+8.42 pp from 2015

Benchmarks

See 1,433 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,433 peers

Snapshot2016

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$50.79M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$107K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

476

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

95.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.56M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+17.30%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$141

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 3 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY2+ years Service code 27 · EIN 71-0294708	Advisory (Plan)	$9,823
MORNINGSTAR2+ years Service code 27 · EIN 36-3297908	Advisory (Plan)	$8,823
WHITTLESEY PC2+ years Filed as: WHITTLESEY & HADLEY, P.C. Service code 99 · EIN 06-0903326	Other Fees	$6,000

Plan features & details

Pension benefit codes2E2F2G2J2K

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$1K

$3 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.005%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: WHITTLESEY & HADLEY, PC
Auditor EIN: 060903326
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,319

$71,802-20.2%

$133,975-57.2%

$57,658-0.6%

Participation rate

82.8%

85.5%-2.7pp

87.1%-4.3pp

70.2%+12.6pp

Annual return

10.02%

13.51%-3.5pp

29.29%-19.3pp

5.13%+4.9pp

Employer contribution / active EE

$3,611

$3,161+14.2%

$5,211-30.7%

$1,974+83.0%

Participant deferral / active EE

$3,165

$4,606-31.3%

$6,282-49.6%

$3,061+3.4%

Admin fee / account holder

$88-96.6%

$9,324-100.0%

$95-96.9%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY2+ years

Service code 27 · EIN 71-0294708

Advisory (Plan)

$9,823

MORNINGSTAR2+ years

Service code 27 · EIN 36-3297908

Advisory (Plan)

$8,823

WHITTLESEY PC2+ years

Filed as: WHITTLESEY & HADLEY, P.C.

Service code 99 · EIN 06-0903326

Other Fees

$6,000

ION FINANCIAL, MHC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ION FINANCIAL, MHC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion